India on way to becoming 3rd largest economy, says PM Modi

Prime Minister Narendra Modi on Saturday (August 2) said that since India was on its way to becoming the world’s third-largest economy, it must remain alert to its economic priorities. He also said that at a time when the world economy was facing instability and uncertainty, other countries were focusing solely on their interests. He was addressing the gathering in Varanasi, Uttar Pradesh.

His comments come days after US President Donald Trump slapped 25 per cent tariffs on goods coming from India and an unspecified penalty for buying crude oil from Russia. Trump also dubbed the economies of India and Russia as “dead economies”.

“India is on its way to becoming the world’s third-largest economy. Since the world economy is facing instability and uncertainty, all other countries are focusing solely on their own interests. We must remain alert to our economic priorities,” said Modi.

Also Read: Avenged Pahalgam attack with Mahadev's blessings, says PM Modi

‘Vocal for local’

Urging traders and consumers to adopt the mantra of “Vocal for Local”, the Prime Minister said that the government was doing everything possible to safeguard the interests of farmers, small industries, and generate employment for the youth, adding that citizens too have to be responsible.

Modi urged people to become “conscious consumers” saying that whenever they buy something, they should ask themselves whether the product was made by an Indian with their skill and hard work.

“If it has been made by the sweat of our people, with their skills, that product is swadeshi for us. We must adopt the mantra of 'Vocal for Local, '” said Modi.

Also Read: Operation Sindoor debate: When Modi's absence in RS spoke louder than his words

‘Sell only swadeshi goods’

He also appealed to traders and shopkeepers to sell only “swadeshi goods” as promoting made in India goods would be the truest service to the country.

"At a time when the world is going through uncertainty, let us take a pledge to sell only swadeshi goods from our shops and markets. Promoting made in India goods will be the truest service to the country."

With the festival and wedding seasons approaching, the prime minister encouraged people to ensure that all new purchases are made in India.

He recalled how many citizens changed their wedding plans from abroad to India after his earlier appeal.

"The feeling of swadeshi in every action will define our future. This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India," Modi said.

(With agency inputs)